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Q2 condo sales decline nearly 20% from 2023: TRREB
Q2 condo sales decline nearly 20% from 2023: TRREB
The Toronto Regional Real Estate Board (TRREB) says condo sales in Q2 fell almost 20 per cent from 2023, as new listings for condos and rentals shot up and rental prices dipped slightly.
Gap narrows between variable and fixed-rate mortgages
Following the Bank of Canada’s latest rate slash, most lenders have trimmed their variable rates by a quarter point. This means the leading variable rates are now a mere 86 basis points above the lowest fixed rates.
Scope of devastation in Jasper starts to emerge
Authorities on Sunday escorted reporters on a tour of parts of town, emphasizing that much of Jasper, Alta. is intact. The fire levelled about 30 per cent of Jasper’s 1,113 structures, and the majority of the damaged buildings are residential.
Federal gov't pledges $41M to repair, build E. Ontario homes
The federal government has announced a three-year, $41-million plan for 13 affordable housing projects across Eastern Ontario. Eighty-six new homes will be built and 3,218 existing homes will be repaired through the Affordable Housing Fund.
Canada has tradespeople, not enough construction
Recent data from the Canada Mortgage and Housing Corporation reveals a troubling trend: while the number of construction labourers in Canada has reached an all-time high, construction activity has not followed suit, resulting in a significant drop in productivity.
More cuts needed to ‘make a difference’ in housing market
A lack of affordability is keeping the housing market cool, citing a further need for more interest rate hikes from Canada’s central bank, according to Robert Hogue, assistant chief economist at Royal Bank of Canada.
The rise of purpose-built rental communities
COLUMN: In the landscape of residential real estate, with demand for rental units on the rise and plans to purchase single-family homes appearing to decline, purpose-built rental communities aren't just a trend, they're solidifying their role as a valuable asset.
Tenants fight back as own-use evictions rise 85% in Ontario
Chris Kostav and Shari Keyes' landlord filed N12 eviction applications with Ontario's Landlord and Tenant Board against them, otherwise known as an own-use eviction, saying he needs to move his daughter into one unit and his parents into the other.
A former child star's $144M real estate crash
Former child actor Robby Clark, majority owner of a real estate investment enterprise, acquired his first property over a decade ago. Today, he's embroiled in a legal debacle that’s potentially one of Canada's largest real estate lending insolvencies ever.
B.C. mortgage broker ran $270M Ponzi scheme, fled Canada
PricewaterhouseCoopers, the trustee appointed to manage the bankruptcies of a Victoria, B.C. mortgage company and its owner, has concluded that they committed "numerous offences" and operated as a "massive Ponzi scheme."
B.C. Airbnb owner says he'll lose over $100K due to new laws
Steve Nguyen runs two Airbnb units in a downtown Victoria apartment building. He says he’s still reeling from the news he soon won't be able to operate it as a short-term rental – since he doesn’t live there.
New tool can (sort of) tell you what your house is worth
Municipal Property Assessment Corporation (MPAC) has launched the Property Pulse Dashboard, which allows people to explore residential sales data by municipality and property type, but information is based on 2016 assessed values for homes that haven't sold recently.
First-time buyers rely on gifts for down payments
Mortgage down-payment gifts from family members remain a crucial factor for first-time homebuyers in Canada, even as the housing market cools and economic conditions tighten, according to a recent study by CIBC.
If we sell our house, will our kids ever own a Toronto home?
One Toronto homeowner wonders if by clinging to his house to have something for his kids, he's clinging to a concept he can no longer afford. Is it better to sell, or keep a nest egg for the next generation?
How to help first-time buyers get a foot on the property ladder
The problem for buyers, and policy-makers, is they are dealing with two unprecedented booms in the last few years: the population boom and resulting demand shock; and the shock of household debt which climbed to $2.1 trillion in 2023.
New home buyers need a rebate program that delivers: BILD
COLUMN: If the federal government is serious about tackling housing affordability, then start by updating the GST/HST New Housing Rebate, according to Dave Wilkes, president and CEO of the Building Industry and Land Development Association (BILD).
What is the trick to making a laneway house work?
For developer Leonid Kotov, president of Greenstreet Flats in Toronto, laneway housing is the future. Kotov says the key priority of developing a laneway home is creating an efficient and comfortable space.
Lake Erie cottage sales at a summer standstill
Cottage sales in Norfolk County, Ont. are at a summer standstill as buyers remain leery of high interest rates and sellers wait for prices to rebound. The few cottage sales that have closed this year all involved a price cut.
Ontario cottage owned by Princess Di's brother up for sale
More of a designer vacation home than a cabin in the woods, the 3+2-bedroom home on Lake Rosseau is going for a whopping $10.5 million, reflecting its high-end features, waterfront land and 4,370 square feet of living space.
A $1M starter home is now the norm in over 200 U.S. cities
A million-dollar price tag on a home is no longer a signifier of luxurious living. In over 200 cities across the U.S., budding homeowners will have to fork out the sum for a typical starter home, according to Zillow.
Industry Events
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Canadian Home Building Association: National Fall Meetings
Oct 21 2024
to Oct 25 2024
Ottawa, Ontario
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Canada Real Estate Auction
Oct 22 2024
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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Housing Central Conference
Nov 18 2025
to Nov 20 2025
Sheraton Vancouver Wall Centre Hotel, BC
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